Current accounts with benefits

Compare current accounts with benefits

Current accounts that give you extra: Want an account that gives you additional benefits, exclusive rates & products? There is often a fee but it can be worth paying. Find the deal that’s best for you and get switching.

Current accounts with benefits - Ordered by monthly fee - Lowest to Highest

 

Account Benefits
  • Linked Products
  • Online Fraud

Monthly fee

Customer service rating

Great (79%) Ok (17%) Poor (4%)

Customer service ratings provided by users of

  • Online Banking
  • Overdraft Facility
  • Standing Orders
  • Direct Debits
Great for:
  • Dedicated switching service to personally manage your account opening
But be aware that:
  • Overdrafts are subject to approval
M&S

Current Account

Account Benefits
  • Loyalty Rewards
  • Linked Products

Monthly fee

Customer service rating

Great (68%) Ok (19%) Poor (13%)

Customer service ratings provided by users of

  • Overdraft Facility
  • Direct Debits
  • Switching Service
  • Online Banking
Great for:
  • Switch to M&S and earn £50 on an M&S gift card plus £5 gift card top up per month for up to 24 months. See T&Cs
  • Access to the 5% AER high interest rate M&S Monthly Saver account. See T&Cs
  • First £100 overdraft is interest free with a £50 buffer if you go over the agreed overdraft limit. No monthly fee
But be aware that:
  • To qualify for the £50 gift card you must use the Current Account Switch Service and have two active direct debits
  • To qualify for a £5 monthly top up on your gift card you must have two active direct debits and a minimum monthly funding of £1,000
Switching Gift Card!

Earn up to £170 on an M&S gift card! Receive £50 when you switch and up to £120 when you stay! Conditions apply, see T&Cs

NatWest

Reward Account

Account Benefits
  • Cashback

Monthly fee

Customer service rating

Great (46%) Ok (36%) Poor (18%)

Customer service ratings provided by users of

  • Cashback
  • Mobile App
  • Overdraft Facility
  • Online Banking
Great for:
  • 3% back on seven household bills with unlimited rewards if paid by Direct Debit. On average NatWest customers earn, £120 in Rewards per year. Based on average monthly Direct Debit amount of £333. Excludes monthly £3 fee
  • Top 20% of Natwest Reward customers earn, on average, £217 in Rewards per year. Based on their average Dec'15/Jan'16 Direct Debit amounts. Excludes monthly £3 fee
But be aware that:
  • £3 monthly fee
  • From 26th June 2017, the cashback on household bills will be reduced to 2%, and the account fee will fall to £2 per month
Rewards

Top 20% of NatWest Reward customers earn on average, £217 in Rewards per year. T&Cs apply

Barclays

Bank Account with Blue Rewards

Account Benefits
  • Cashback

Monthly fee

Customer service rating

Great (41%) Ok (40%) Poor (19%)

Customer service ratings provided by users of

  • Overdraft Facility
  • Mobile App
  • Direct Debits
  • Standing Orders
Great for:
  • Earn cashback at over 100 online retailers and Expedia when you shop through SmartSpend
  • Earn up to £16 a month in loyalty rewards
But be aware that:
  • You must be at least 18 years old to open this account
  • You'll have to pay a £3 monthly fee
Santander

123 Current Account

Account Benefits
  • Online Fraud
  • Cashback

Monthly fee

Customer service rating

Great (65%) Ok (29%) Poor (6%)

Customer service ratings provided by users of

  • Mobile App
  • Switching Service
  • Overdraft Facility
  • Cashback
Great for:
  • Monthly cashback on selected household bills
  • Monthly interest of 1.5% AER (variable) payable on your entire balance up to £20,000
But be aware that:
  • A £5 account fee will be taken from your account each month
  • You must pay in at least £500 each month and have at least two active Direct Debits
2016 SUPERS

Winner of the Best 'Loyalty’ Current Account Provider

Account Benefits
  • Breakdown Cover
  • Mobile Insurance
  • Linked Products
  • Loyalty Rewards
  • Travel Insurance

Monthly fee

Customer service rating

Great (80%) Ok (17%) Poor (3%)

Customer service ratings provided by users of

  • Mobile App
  • Online Banking
  • Online Fraud
  • Switching Service
Great for:
  • UK & European Breakdown and Recovery Assistance (including Home Start)
  • 3% AER in-credit interest - (2.96% gross p.a.) variable on balances up to £2,500
  • 12 months Extended Warranty Cover on eligible household electrical goods, three months fee-free overdraft, Identity theft and Emergency Card Assistance
But be aware that:
  • The account costs £10 a month
  • Exclusions and limitations apply with all of Nationwide's insurances
M&S

Premium Current Account

Account Benefits
  • Linked Products
  • Loyalty Rewards

Monthly fee

Customer service rating

Great (68%) Ok (19%) Poor (13%)

Customer service ratings provided by users of

  • Online Banking
  • Overdraft Facility
  • Direct Debits
  • Standing Orders
Great for:
  • Switch to M&S and earn £50 on an M&S gift card plus £5 gift card top up per month for up to 24 months. See T&Cs
  • M&S vouchers worth £222 every year (£127 worth of hot drinks vouchers, £40 vouchers for clothing and homeware, £45 for treats and delights and a £10 birthday treat)
  • Access to the 5% AER high interest rate M&S Monthly Saver account. See T&Cs
But be aware that:
  • £10 monthly fee
  • To qualify for the £50 gift card you must use the Current Account Switch Service and have two active direct debits. To qualify for a £5 monthly top up on your gift card you must have two active direct debits and a minimum monthly funding of £1,000
Switching Gift Card!

Earn up to £170 on an M&S gift card! Receive £50 when you switch and up to £120 when you stay! Conditions apply, see T&Cs

NatWest

Reward Silver Account

Account Benefits
  • Travel Insurance
  • Mobile Insurance
  • Cashback

Monthly fee

Customer service rating

Great (48%) Ok (38%) Poor (14%)

Customer service ratings provided by users of

  • Cashback
  • Mobile App
  • Overdraft Facility
  • Online Banking
Great for:
  • 3% back on seven household bills with unlimited rewards if paid by Direct Debit. Top 20% of NatWest Reward customers earn, on average £217 in Rewards per year. Based on their average Dec'15/Jan'16 Direct Debit amounts. Excludes monthly £12 fee
  • Includes many lifestyle benefits such as European multi trip travel insurance, preferential rates on travel money, mobile phone insurance & tastecard membership. Account terms & conditions apply
  • Ticket booking service, receive 25% cashback on tickets for theatre, dance, opera, concerts and more
But be aware that:
  • £12 monthly fee
NatWest

Reward Platinum Account

Account Benefits
  • Travel Insurance
  • Breakdown Cover
  • Mobile Insurance
  • Cashback

Monthly fee

Customer service rating

Great (48%) Ok (38%) Poor (14%)

Customer service ratings provided by users of

  • Cashback
  • Mobile App
  • Overdraft Facility
  • Online Banking
Great for:
  • 3% back on seven household bills with unlimited rewards if paid by Direct Debit. Top 20% of NatWest Reward customers earn, on average, £217 in Rewards per year. Based on their average Dec'15/Jan'16 Direct Debit amounts. Excludes monthly £18 fee
  • Includes many lifestyle benefits such as Worldwide multi trip travel insurance, UK car breakdown cover, mobile phone insurance & tastecard membership. Account terms & conditions apply
But be aware that:
  • £18 monthly fee

 

See more current accounts

Current accounts. Trust us to explain them simply

Guides

  

With benefits guide

What is a with-benefits account?

A 'with-benefits’ account is a current account that offers a raft of extras but also charges a monthly fee for use. For the right account holder, extras such as free breakdown cover, travel insurance, phone insurance, home emergency cover and discounts more than offset the monthly fee.

Because with-benefits accounts are laden with extras, they are often referred to as packaged or added-value accounts.

Who do they suit?

With-benefits current accounts are good for those who tend to buy the extras anyway and so will save money despite the fee. Some accounts have fairly high minimum monthly payments, so these are best suited to those earning a high salary who can meet this requirement.

They can also be useful as a joint account, as then you can both benefit from the perks while still paying just one fee.

Benefits

Although most of us expect our current account banking to be free, these deals are slowly catching on as the perks improve and people recognise the savings they can make. If you are considering a packaged account, be sure you will use the perks included.

The range of added benefits vary depending on the account and the monthly fee you opt to pay, so it’s important to take time to search the market and find the most suitable packaged account for your needs and circumstances. Common extras include travel insurance, breakdown cover and mobile phone insurance.

Many banks and building societies also offer preferential rates on other products such as savings and mortgages, to their packaged account customers.

Negatives

The fact there is a monthly fee will be a turn-off for many people.

Some of the perks that come with a with-benefits account need to be signed up for – you might need to register your phone for the mobile insurance, or provide information for your travel policy. Make sure you get around to registering, otherwise you’re wasting money.

Typically, as well as the monthly fee, there will be a minimum amount you will need to pay into the account each month in order to qualify. This can mean that some people’s wages aren’t enough to let them qualify for these kinds of account.

Alternatives

If you aren’t going to use the extras that come with a with-benefits account then it’s probably not worth paying the monthly fee to have one. Instead, consider how you use your current account. If you’re frequently overdrawn, go for a deal that gives you a generous interest-free overdraft. If you’re usually in credit, then a high-interest current account could be a better option.

High earners with more complicated banking needs may not find a packaged account is right for them and may prefer a premier account, which gives them access to a relationship manager.

There are even reward accounts that pay you an amount each month, so a fee-paying account is not always the best option.